LA-5, The Ins & Outs of Co-Tenancy
September 17 @ 9:00 am - 10:30 am
This basic presentation will introduce you to the concept of co-tenancy (DESIRED TENANT MIX) and its various forms (Possession, Opening, Ongoing/Operating clauses–they are there to protect your company’s interests!) as well as other issues impacting co-tenancy such as prohibitive and exclusive use, hours of operation, continuous operation requirements and marketing/merchants association obligations. We will discuss the basics of co-tenancy such as challenges associated with the enforcement of various co-tenancy clauses–time, comprehension, research; the difference in conditional statements-how they hurt or help you; intent versus lease language (defined terms); and your options when a Landlord will not provide documentation required for proper confirmation OR when your lease does not contain a remedy. Upon completion of this course, you will be armed with tools to help you understand and decipher co-tenancy clauses in today’s markets and best practices for confirming and enforcing co-tenancy conditions. And most importantly, this presentation will stress the FINANCIAL IMPACT (BIG $$$$$) when retailers fail to implement or maintain an on-going program of monitoring their co-tenancy clauses as well as monitoring center occupancy levels and tenant mix for locations where these protections exist.